Cobalt Prices Continue To Rise

[Ferro-Alloys.com]Cobalt prices are still gaining ground as spot demand has not scaled back over the past few weeks. According to sources, prices rose by over 30? per lb since the beginning of the week, and almost 80? per lb week-over-week. Prices for Co 99.8% material are currently $14.50-15 per lb, compared $13.30-13.90 per lb the week prior. Sources noted that there is strong momentum behind the current upward trend as strong spot demand continues to push prices north. “The arrow is definitely pointing up right now,” said a source. “Inquiries are quite firm and seem to be for steady volumes.” Sources added that buyers are also seeking material for forward deliveries as many look to guarantee material availability.